Boom In Online Retailing…Boom for Online retailers?
By Samuel Hary
Online retailing is on the upswing all over the western world but in UK this trend has captured the imagination of the common man. According to research conducted by money transfer site Paypal Europe, by 2010, 6% of UK consumers will purchase goods and acquire services online. In 2005 consumers in UK bought goods worth £8.2 billion from various marketing web portals, which is up by almost 29% from the online sales achieved by portals in the year previous to this, stated Verdict, a respected market analyst. This is something which has caught fire with the proliferation of broadband, which is considerably quicker than the old dial-up services.
With the increase of consumers it is all but obvious that the number of platforms offering these services will shoot up. Now, the dilemma for the consumer is in this plethora of 'players', with whom should they play the game? The answer as usual is hidden somewhere in the 'fine print'. The two things one should always be aware of are: whenever anything sounds too good to be true, it most probably isn't and everyone in this field is here for doing business and is not your best buddy as most of these online retailers, selling almost everything under the sky, claim. The standard practice that almost all of them indulge in is offering cold cash for joining their domain and then offer cashback for the purchases made online, so far so good.
What has left the consumer exasperated is the inadvertent delays, which these portals claim are unavoidable, in paying up the cashback amount or in few cases non-payment of the 'promised' amount. As the complaints against the old players are rising people are increasingly looking more towards the new players who are stepping into the market with a newer outlook towards the trade and better work ethics, at least this is what the consumer thinks or wishes.
The latest entrants are expected to rise above the set benchmarks because that is the only way they will be able to survive in this highly competitive field. They are bound to offer lucrative schemes and better services because that will be the logical and practical thing to do as to establish the brand name they need to win over the trust of their potential consumer and the easiest way to achieve it would be to deliver on their promises. This simply makes business sense and business is what they are here to do.
About the Author
Samuel Hary is a shopping expert with http://www.ukonlinemarket.co.uk
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